Everyone is looking for the magic bullet for real estate lead conversion. Is it a script that you say? A cool piece of technology that you use? The automated emails that you send to follow up? 10 Days of Pain? Post cards? Flyers? Well, of course the answer is in there, but do you think I’m going to tell you yet? Ha! Let’s just suffice it to say that real estate lead conversion is rocket science.
Real Estate Lead Conversion vs Lead Generation
Let’s clarify something here right at the beginning: Lead CONVERSION is different than lead generation. You can generate a million leads, but if you can’t convert them, then you are wasting your time and money. Home Value Leads does an amazing job at low cost lead generation compared to the hundreds of other lead generation techniques out there. As with any lead generation service, it is up to you to convert them, however.
Real Estate Lead Conversion vs Lead Follow Up
Here on our site, we have discussed utilizing tools such as Follow Up Boss, Happy Grasshopper, and Cloud CMA to help you follow up with the leads. Follow up is very important for those leads that are non-responsive or indicate that they are not in the market right now, but lead follow up is not lead conversion either, now is it?
Real Estate Lead Conversion Made Simple
Ok, so I said that real estate lead conversion is rocket science, right? It is actually as easy as picking up your phone. That’s right, picking up your phone. According to the NAR 2013 Profile of Home Buyers And Sellers, 2/3rds of home buyers and sellers only contacted ONE agent before selecting the one to assist with their home sale. By simply answering your phone, you can be that one agent, right? Your “unique service proposition” can be that you will actually answer your phone. In today’s age, that IS a unique proposition.
If that lead comes in from the web, pick up the phone and call THEM. According to a study done by MIT, you are 7x more likely to convert a lead when you call within the first hour of the lead being generated. Call back in the first 5 minutes, and you are 28x more likely to convert a lead. In their study, nearly 25% of leads are called more than 24 hours after they are generated, and another 25% of leads are NEVER called.
Scared of making that phone call or can’t get them on the phone? Try text messaging. The average text message is read in just 3 minutes, compared to the 78% of email that gets deleted without being opened.
Real Estate Lead Conversion IS Rocket Science
Have you gotten the theme here? Real estate lead conversion is all about speed of PERSONAL contact. Email is not personal, so your automated campaigns and drips are considered follow ups, not conversion. Make an effort to speed up your personal contact rates. Pick up the phone when they call, or pick up the phone and call or text them. You will notice a difference in the number of conversations and appointments you get.